During the second day of Paris Blockchain Week Summit 2019, Scorechain chairman and co-founder Laurent Kratz has agreed to do an interview with Crypto Insider and talk about the blockchain intelligence services his company provides.
Before the recording started, Mr. Kratz has made a big claim in regards to the scope and scale of Scorechain: it’s the biggest Bitcoin and Ethereum crypto transaction analysis company in Europe, and one with greater scale and efficiency than even Neutrino – which Coinbase acquired earlier this year in spite of shady associations with human rights violations.
Throughout the interview, the co-founder would reaffirm the statement with the same direct confidence.
As the conversation progressed, Laurent Kratz has clearly expressed his views on anarchy and compliance: the intelligence firm which he leads is a bridge between blockchain innovation and the rule of law, and therefore acts as an instrument which ensures that actors are honest and proper taxes get paid. To be more specific, the biggest customers of Scorechain are cryptocurrency exchanges which require further information about the origins of the funds, and audit firms interested in the transparency of their clients.
In regards to the early cypherpunk dream which laid at the foundation of ecash, b-money, bit gold, and eventually Bitcoin, Ethereum and Monero, Laurent Kratz is very direct: it’s a romantic ideal, but death and taxes are inescapable.
At the time when the interview was shot, Scorechain had just launched blockchain analysis for Litecoin and was planning to direct some resources towards Bitcoin Cash. Historically speaking, the company has started with Bitcoin, has moved on to Ethereum, and has also extended its field of expertise to cover ERC20 tokens. Basically, businesses and governments looking to do forensics and compliance can contract the services of Scorechain in order to track down certain cryptocurrency transactions and de-anonymize addresses on the public ledger.
Laurent Kratz on currencies, utilities, and Bitcoin
An interesting distinction which Laurent Kratz makes is about the fundamental difference between currencies and utilities. More specifically, he states that the exclusion of VAT (Value Added Tax) turns utilities into properly acknowledged currencies. In this regard, he states that countries like France, Belgium, and Luxembourg have already enacted the corresponding laws to recognize Bitcoin as a form of money.
The chairman and co-founder of Scorechain also made it pretty clear that their job is not to de-anonymize individuals, but to analyze legal entities – in this regard, he presented the example of the Kraken exchange and the methodology employed in order to identify potentially fraudulent transactions.
Last but not least, Mr. Kratz has made an interesting remark about the fungibility of Bitcoin and how the firm that he leads might help increase fungibility: through the analysis of Scorechain, some coins associated with criminal activities (most famously, the Silk Road) can be declared as “clean” thanks to being sold by the FBI or changing hands enough times to stop being suspicious. This helps users make use of their BTC on various exchanges without worrying about potential criminal investigations that might be unfair.
So if some bitcoins become tainted after Scorechain’s analysis, there are others that receive a clean slate for free trading. Nonetheless, this says a lot about the privacy improvements that are required in Bitcoin, and how mixing, Schnorr signatures, and other innovations that may lead to confidential transactions are vital for a truly fungible mean of exchange.
Here is a 17-minute interview with Mr. Laurent Kratz, chairman and co-founder of Scorechain.
- Source: First Appeared Here
- Published Time: 2019-05-07 23:48:00
The views and opinions expressed in the article Interview: Laurent Kratz on Scorechain and blockchain intelligence do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research..
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